I just saw the news that Zend has raised $7 million more, in its fifth (Series E) round of funding. Zend last raised $20 million in August 2006. Zend has raised so much money that it must be bought for a bazillion dollars for its investors to get a good return from it.
There are good reasons to raise money heading into a downturn: The justification noted in the press release is to use the funds "as needed." That sounds like "in case things go awry during a recessionary period." This is smart.
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